MGF1010: Introduction to Management Assessment task 3: Individual Final Essay Due Date: Friday 23 September 2022 (week 9), 11:55pm (AEST) Weighting/Value: 40% Details of Task: Students are required to develop an essay on a contemporary topic and asked to analyse certain management issues, bringing in relevant theories and principles. Word limit: 1500 words (+/- 10%) (excluding reference list) Using the following statement, write a critical essay with the use of relevant examples: The external environment of an organisation includes background conditions that influence the organisation, while its internal environment (or organisational culture) is the set of key values, beliefs and attitudes shared by organisational members. Discuss how the relationship between the external and internal environments affect organisations. Presentation requirements: ● Students must consider and incorporate the feedback received from their tutors on assessment 2 of the essay (skeleton essay) in completing this task. ● The final essay (assessment 3) requires students to develop an essay containing the following: o Introduction: purpose, scope, structure, stance taken; o Body: discussion and analysis of the various themes from the skeleton essay; o Conclusion: summary of key arguments; o References: List of key references (APA 7 format) ● A list of references should also be provided under the sub-heading ‘References’ using the APA 7 format (see https://guides.lib.monash.edu/citingreferencing/apa7th ) on a separate page. These sources should also be cited within the essay. A minimum of 7 academic references are required. ● Use Times New Roman or Arial 12-point font size, with 1.15 spacing 1 Criteria for marking: ● The marking template for this assessment task is available on the MGF1010 Moodle site under assessment 3. ● The essay will be assessed and marked based on the five sections: o Introduction 10% o Body 60% o Conclusion 10% o Presentation 10% o Referencing 10% Learning objectives assessed: This assessment task assesses learning objectives 1, 4, & 5 of the unit. Submission details: ● Only Microsoft Word documents will be accepted (.doc / .docx) ● It is essential you adhere to the following format for the naming of the file: o it must contain your FULL NAME; and o there must be no space in the filename. (i.e. janedoe_essay.docx o You will receive a confirmation message within Moodle once you have successfully submitted your assignment within the electronic drop-box. Penalties for late lodgement: The penalty for late submission is 10% per day, including weekends. Special Considerations: For information on applying for special consideration, please visit: https://forms.monash.edu/special-consideration. It is suggested that students plan to submit assessment tasks before the due date to cover any unexpected delays. Assessment coversheet: An electronic coversheet is required for this assessment. This is accessible in Moodle as a tick-box before you submit your report. You will be prompted to read through and accept a student agreement prior to submission. Additional information: Assessments will be marked with a letter grade only. Penalties will also be applied to assessments with Turnitin scores above 15%. Estimated return date: Two weeks after submission 2 MGF1010 Marking and Feedback Sheet for Individual Final Essay (Assignment 3) Student Name: Section/Criteria Introduction: Clearly outlines the purpose, scope, structure of the essay. The stance taken in relation to the essay statement is articulated. Body: Each issue under investigation thematically analysed. Arguments/viewpoints supported by evidence from reference material, data or examples. Logical progression of ideas. Demonstrates a high level of quality research into the topic utilising 7 academic sources, preferably academic journal articles plus 2-3 reputable and reliable non-academic sources to derive real-life corporate examples. Conclusion: All aspects drawn together in a brief, concise summary. Consistent with findings, no new material introduced but highlights implications or a comment on the future of the issue. Presentation: High quality of expression, grammar, spelling, punctuation and proofreading. Format and layout in professional manner (i.e. 1.5 spacing, 12-size font, Times New Roman). Referencing: Use of APA referencing system in a consistent and correct manner in the essay itself. Inclusion of an accurate reference list on a separate page listing only the sources that actually have been used. The reference list is arranged in alphabetical order according to the authors’ last names. ID number: /30 4 14 4 4 4 Fail (Less than 25%) Fail (26-49%) Pass (50‐59%) Credit (60‐69%) Distinction (70‐79%) High Distinction (80 ‐100%) In addition to the conventional recognition of Management as the organizational unit responsible for carrying out strategic goals, it is essential to address Management’s role as an inherently social practice. This is the case even though Management is traditionally understood as a formal entity. Therefore, managers are given authority that invariably significantly affects those under them. In addition, historical and cultural traditions have shaped this authority in ways that have aided in businesses’ growth and success and sometimes contributed to their demise. The definitive history of ‘power’ can be investigated as a significant determinant of the style of Management that a corporation carries out by looking at the connection between corporate conditions and innate human behavior in the early stages of Management in commercial contexts after the year 2000. This is significant for the period after 2000 when Management was first implemented in corporate settings. When managers use traditions as a learning curve on which to build new practices, it also helps them to investigate the element of preserving or reconstructing techniques, which is an essential ability for persons working in Management. The shifting power dynamic in society, in which managers are increasingly expected to converge their influence holistically rather than assert their dominance, makes it possible for company development to be supported. Greed is a core component of capitalism and a universal human feature (Epstein, 2000; Sinha & P., 2010). (Epstein, 2000; Sinha & P., 2010). Financial incentives are appealing to the private sector. According to the classical scientific management paradigm, where profits are prioritized above all else, using monetary incentives to motivate staff aligns perfectly with capitalist principles (Van Fleet & Bedeian, 1977). While this technique may raise earnings, it does not guarantee employee happiness, which could impede company growth (Brightman, 2004). In profit-sharing, supervisors receive much larger bonuses than their employees. This gives a financial incentive for managers to deliver results. In today’s complex world, this weakens the management team. Under a profit-share arrangement, managers may pick profit-maximizing techniques, but employees may act indifferently because their reward is disproportionately low. This supports scientific Management. Although financial incentives have the potential to shape business strategy and even seize control in some situations, their allure varies widely across an organization’s organizational chart. Combining tried-and-true tactics with creative solutions can boost business success. The variety of management approaches employed around the world supports this view. History and culture in different regions of the world have contributed to distinctive concepts of power and dominance, primarily when social diversity is being cultivated. The meritocratic Western system and the seniority-based Eastern framework are just two examples of how cultural differences and unique histories shape the management styles of different countries. As society places a greater emphasis on diversity and tolerance, we must also learn to live with long-standing traditions and recognize the impact of cultural features on economic success or failure (Cummings & Bridgman, 2011). For example, the underrepresentation of women in the East’s labor force is a symptom of long-standing cultural conventions that harms the region’s ability to cultivate good Management and, by extension, its chances of success. When faced with such challenges, governments and organizations must reflect on their management practices and adjust to meet better the demands of the modern world (Lin, Chen, & Su, 2017). Here, it is crucial to maintain and adapt cultural mores to develop a management style best suited to specific contexts (Brightman, 2004). Mark Cohen of Columbia University calls Toys R Us “guilty of repeated mismanagement,” providing yet another example of failing to adjust to the needs of the modern day. They went bankrupt because they misrepresented the market by presuming that children today play as they did in the past, without devices. As a result, it is more important than ever that managers think about the potential consequences of their actions in the context of the here and now. This case illustrates the make or break of the power of Management, which calls for cultural traditions not to be abandoned but rather to be practiced in a way that makes the culture’s historical foundations compatible with today’s society. Today, in the workplace, as in other spheres of life, people place a premium on helping one another and working together. Money may influence the direction and be the entity in power, yet its attraction may vary throughout a company’s hierarchy and lead to failure. Extrapolating from historical and present management styles across the world, it is evident that past techniques and current needs must be integrated to achieve business progress. History and culture in different regions of the world have contributed to distinctive conceptions of power and dominance at a time when diversity is promoted in all social sectors. From a merit-based system in the West to a seniority-based framework in the East, countries’ management styles differ and share similarities. As current times emphasize inclusivity, it is essential to accept the consequences of past norms (Cummings & Bridgman, 2011) and recognize the effect of particular cultural qualities on corporate growth. The underrepresentation of women in the East’s labor force is emblematic of a cultural norm that hinders good Management and overall performance. Such situations need governments and organizations to rethink and adjust their management style (Lin, Chen, & Su, 2017) to meet modern society’s needs. Preserving and adapting cultural norms is crucial in this context to develop a management approach optimal for specific environments (Brightman, 2004). Mark Cohen of Columbia University calls Toys R Us “guilty of chronic mismanagement,” making the company a prime example of failing to adapt to the current culture. Their liquidation stems from misrepresenting the existing market by presuming that a child’s play is devoid of devices. This underscores the need for managers to make judgments based on current situations and the negative impact their approach can have. Management’s “make or break” ability is demonstrated by the preceding situation, which highlights the importance of maintaining cultural traditions while also adapting to the needs of the modern world. Modern workplaces emphasize mutual empowerment and teamwork. As supervisors extend their control to personnel, it encourages people to take the initiative and responsibility (Bhuiyan, 1970). This allows for a team effort in which employees see their jobs as contributing to their achievement. The management style encourages employees to actively participate in solving problems and other cognitively stimulating tasks rather than just carrying out orders from higher-ups in the organization’s hierarchy. According to Deloitte’s 2016 Global Human Capital Trends report, “culture is a potential competitive advantage” when employees are encouraged to contribute to the firm. This exemplifies the value of working together toward a common goal and demonstrates the connection between corporate expansion and development in this way. In the same vein as Frederick Herzberg’s theory of motivation, which examines the impact of employees’ sense of worth on their actions, this view of motivation focuses on the importance of autonomy (Pringle & Starr, 1999), creating a work environment where everyone feels appreciated a priority can be a powerful motivator for expansion. Therefore, there has been a shift from the traditional view of managers as exerting authoritative behavior to the more recent concept of “shared” power, in which employees at lower levels of the organization may not have a direct say in managerial decisions but are nonetheless actively encouraged to do so and given a forum in which to do so. The result is that everyone, not just the “head” manager, feels accountable for their actions. Today, Management focuses on interpersonal connections, cooperation, and shared accountability to propel an organization forward. Through their appeal to fundamental aspects of the human condition, historical and cultural relations of power and dominance indirectly impact Management. The requirement that future practices be designed following the shifting requirements of society imposes an additional requirement on the style of Management, namely that it differs from previous iterations by being adaptable. Recent research has shown that a management style that takes on more of a communal view of power is more likely to foster a productive workplace culture in which all employees are encouraged to take responsibility. Additionally, potential topics for the future could include the impact that the “relaxed” attitude of modern Management has had on the expansion of businesses. References Bhuiyan, S. I. (1970). Strategies for developing media managers for convergence: An analysis of perspectives from management theory and practice for managers of converged newsrooms: Semantic scholar. undefined. Retrieved August 11, 2022, from https://www.semanticscholar.org/paper/Strategies-for-developing-mediamanagers-for-an-of-Bhuiyan/f9ba0088de59e2c035e3aca77915c34a835ed9ba Borgen, C. (2018). Conflict Management and the Political Economy of Recognition. Complex Battlespaces, 127–160. https://doi.org/10.1093/oso/9780190915360.003.0005 Cummings, S., & Bridgman, T. (2011). The relevant past: Why the history of management should be critical for our future. Academy of Management Learning & Education, 10(1), 77–93. https://doi.org/10.5465/amle.10.1.zqr77 Brightman, B. K. (2004). Why managers fail, and how organizations can rewrite the script. Journal of Business Strategy, 25(2), 47–52. https://doi.org/10.1108/02756660410526416 Epstein, E. M. (2015). The continuing quest for accountable, ethical, and Humane Corporate capitalism: An enduring challenge for social issues in management in the New Millennium: Business Ethics Quarterly. Cambridge Core. Retrieved August 5, 2022, from https://www.cambridge.org/core/journals/business-ethicsquarterly/article/continuing-quest-for-accountable-ethical-and-humane-corporatecapitalism-an-enduring-challenge-for-social-issues-in-management-in-the-newmillennium/3C808F9C2E5B3CED267A7EADB4BABA22 Lin, H., Chen, M., & Su, J. (2017). How management innovations are successfully implemented? an organizational routines’ perspective. Journal of Organizational Change Management, 30(4), 456–486. https://doi.org/10.1108/jocm-07-20160124 Van Fleet, D. D., & Bedeian, A. G. (1977). A history of the span of Management. The Academy of Management Review, 2(3), 356. https://doi.org/10.2307/257693

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